Cabot Forms Joint Venture With GE Cap

Cabot Industrial Trust, Boston, has announced the formation of a joint venture with GE Capital RealEstate, Stamford, Conn., to acquire and develop industrial properties. Cabot isthe operating partner and will be paid acquisition, development, and management fees for services rendered to theventure, which plans to buy and develop up to $250 million of industrial properties. GE Capital has committed $100million to the venture, for an 80% equity share, and Cabot has committed $25 million, for a 20% share. The remainderof the financing will be funded by debt, for a target leverage of 50%, Cabot said. "This joint venture isfocused on investing, primarily through acquisitions, in multi-tenant and workspace properties," said Cabotpresident Robert Patterson. "These properties continue to experience strong demand, particularly from fast-growingbusinesses that are driving this economic expansion." The companies' website addresses are http://www.cabottrust.com and http://www.gecapitalrealestate.com .